19% pay cut for our President and Prime Minister !!!

According to CNA, this means that in 2009, there will be a 19 per cent fall in the annual salary of the President to S$3.14m and the Prime Minister to S$3.04m. The Ministerial Grade (MR4) salary will fall by 18 per cent to $1.57m, and salaries at the entry Superscale grade (SR9) will fall by 12 per cent to S$353,000.

Our Prime Minister will take a pay cut of more than S$700,000 from S$3.76 to S$3.04 million dollars which matter little to him since it was noted that “he has donated and will continue to donate all increases in his own salary over the level before the April 2007 revisions to good causes for five years.”

What is the Prime Minister’s annual pay before the April 2007 revisions ? Assuming that it is S$2 million dollars a year, he will still be raking in $5,555 of taxpayers’ money DAILY !!! How many Singaporeans bring home more than $5,000 a month ? And this amount is still S$1.4 million dollars more than what U.S. President George Bush is getting !

Watch video here:

http://wayangparty.com/2008/11/24/1...he-highest-paid-public-servants-in-the-world/

19 percent only ?

Oh comon. How did they derive the 19 percent ? High time they reveal the benchmark for calculations.

What we need is a good dose of transparency and accountability.

Going by the losses made by Temasek and the GLC which we will never know, their paycut hardly compensate for it.

Besides read the article clearly. http://www.channelnewsasia.com/stories/singaporelocalnews/view/391904/1/.html

There is NO PAYCUT. As an interprid writer in this forum pointed out, it was "no bonus" and "no raise".

How can that be a paycut then ?



Dan